Ethereum Active Address Count Hits 2-Year High, Yet ETH Is Still Bearish

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Ethereum’s price is more than 80% below its all-time high above $1,400. Yet this bearish price performance on a macro scale has not stopped users from flooding to the network. Data suggests that usage of the network is starting to reach the highs seen at the peak of 2018’s bubble. ETH’s price is unlikely to follow, though, analysts say. Number of Active Ethereum Addresses Spikes The latest blockchain data shows that Ethereum users are shrugging aside the indecisive price action. Blockchain analytics firm Santiment reported on June 29th that the number of addresses interacting with the network has reached two-year highs. “The number of daily addresses interacting with $ETH has spiked in the past 24 hours to a 2-YEAR SINGLE DAY HIGH of 486,000 addresses! The last time Ethereum’s address activity was this high was on May 5th, 2018,” Santiment wrote in reference to the data seen below. Number of…

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